Nebraska Farm Real Estate

2017-2018 Farm Real Estate Report

Reports agricultural land values and rental rates for Nebraska as well as changes from a year earlier, based on results from the Nebraska Farm Real Estate Market Survey. The February 2018 survey of nearly 120 expert-panel members from across the state provided current information and insight regarding the agricultural land market conditions in their areas. They also provided details of actual sales transactions over the previous 12 months.

The Cornhusker Economics for March 15, 2017, Trends in Nebraska Farmland Markets: Declining Agricultural Land Values and Rental Rates, includes a discussion on agland real estate, breakdown of real estate rates by district, and tables of average farmland value and land rental rates by district. The author is Jim Jansen, Nebraska Extension agricultural systems economist.

Preliminary findings from the University of Nebraska–Lincoln 2016 Nebraska Farm Real Estate Market Survey indicate that as of Feb. 1, 2016, the weighted average farmland value declined by about 4 percent over the prior 12-month period to $3,135 per acre. This decline marks the second consecutive year of lower weighted average farmland values in Nebraska. Read More»

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Real estate appraisers often use one of three methods to value real property: the market or sales comparison approach, the income approach, and the cost approach. In addition, factors other than the prospective income stream can factor into land prices.

Figure 1. The 2018 statewide average market value of farmland in Nebraska, at $2,745 per acre, declined 3% from a year ago. Average values decreased in all eight districts. (Source: Preliminary report from the 2018 Nebraska Farm Real Estate Market Survey)

The average market value of Nebraska agricultural land declined by 3% over the prior year to $2,745 per acre, according to a preliminary report of of the 2018 Nebraska Farm Real Estate Market Survey. Market values have dropped 17% since reaching a high of $3,315 in 2014.

The 2017 Nebraska Farm Real Estate Report released today estimates total value of agricultural land and buildings in Nebraska fell to approximately $127.7 billion, down $5.6 billion from 2016. In the all-land category the state ag real estate average value was $2,820 per acre or about 9% less than the prior year’s value.

USDA National Agricultural Statistics Service (NASS) reported Aug. 5 that Nebraska farm real estate value, a measure of land and farm building values, decreased approximately 3% from 2015. Cropland decreased 4%. Cash rents for cropland decreased an average $10-$11 per acre.